AAIZX vs. AIO
AAIZX (Alger AI Enablers & Adopters Z) and AIO (Virtus Artificial Intelligence & Technology Opportunities Fund) are both Technology Equities funds. Over the past year, AAIZX returned 51.07% vs 31.19% for AIO. A 0.67 correlation means they provide meaningful diversification when combined. AAIZX charges 0.55%/yr vs 1.41%/yr for AIO.
Performance
AAIZX vs. AIO - Performance Comparison
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Returns By Period
In the year-to-date period, AAIZX achieves a 22.36% return, which is significantly lower than AIO's 33.33% return.
AAIZX
- 1D
- -0.47%
- 1M
- 0.62%
- YTD
- 22.36%
- 6M
- 19.86%
- 1Y
- 51.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AIO
- 1D
- 0.80%
- 1M
- 6.56%
- YTD
- 33.33%
- 6M
- 30.92%
- 1Y
- 31.19%
- 3Y*
- 28.48%
- 5Y*
- 13.46%
- 10Y*
- —
AAIZX vs. AIO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AAIZX Alger AI Enablers & Adopters Z | 22.36% | 41.00% | 33.76% |
AIO Virtus Artificial Intelligence & Technology Opportunities Fund | 33.33% | 0.48% | 31.81% |
Correlation
The correlation between AAIZX and AIO is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2024 | 0.67 |
The correlation between AAIZX and AIO has been stable across timeframes, ranging from 0.67 to 0.73 - a consistent structural relationship.
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Return for Risk
AAIZX vs. AIO — Risk / Return Rank
AAIZX
AIO
AAIZX vs. AIO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger AI Enablers & Adopters Z (AAIZX) and Virtus Artificial Intelligence & Technology Opportunities Fund (AIO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AAIZX | AIO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.29 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.95 | 2.74 | +0.21 |
| Martin ratioReturn relative to average drawdown | 8.78 | 8.09 | +0.69 |
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Drawdowns
AAIZX vs. AIO - Drawdown Comparison
The maximum AAIZX drawdown since its inception was -29.00%, smaller than the maximum AIO drawdown of -44.88%. Use the drawdown chart below to compare losses from any high point for AAIZX and AIO.
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Drawdown Indicators
| AAIZX | AIO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.00% | -44.88% | +15.88% |
Max Drawdown (1Y)Largest decline over 1 year | -17.47% | -11.42% | -6.05% |
Max Drawdown (3Y)Largest decline over 3 years | — | -30.23% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -37.39% | — |
Current DrawdownCurrent decline from peak | -4.86% | -1.73% | -3.13% |
Average DrawdownAverage peak-to-trough decline | -4.96% | -10.87% | +5.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.85% | 3.86% | +1.99% |
Volatility
AAIZX vs. AIO - Volatility Comparison
Alger AI Enablers & Adopters Z (AAIZX) has a higher volatility of 10.52% compared to Virtus Artificial Intelligence & Technology Opportunities Fund (AIO) at 7.88%. This indicates that AAIZX's price experiences larger fluctuations and is considered to be riskier than AIO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAIZX | AIO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.52% | 7.88% | +2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 18.71% | 14.77% | +3.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.16% | 18.85% | +5.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.86% | 22.26% | +5.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.86% | 26.89% | +0.97% |
AAIZX vs. AIO - Expense Ratio Comparison
AAIZX has a 0.55% expense ratio, which is lower than AIO's 1.41% expense ratio.
Dividends
AAIZX vs. AIO - Dividend Comparison
AAIZX's dividend yield for the trailing twelve months is around 5.16%, less than AIO's 10.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
AAIZX Alger AI Enablers & Adopters Z | 5.16% | 6.31% | 4.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
AIO Virtus Artificial Intelligence & Technology Opportunities Fund | 10.83% | 13.75% | 7.30% | 10.34% | 11.12% | 19.97% | 9.31% | 0.54% |
Frequently Asked Questions
AAIZX and AIO have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAIZX has higher volatility (10.52%) compared to AIO (7.88%). In terms of maximum drawdown, AAIZX dropped -29.00% vs AIO's -44.88%.
AAIZX currently has the higher Sharpe Ratio (2.14 vs 1.66), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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